Bill

Bill > A1657


NJ A1657

Prohibits use of education, occupation, and credit score as rating factors in automobile insurance underwriting.


summary

Introduced
01/14/2020
In Committee
01/14/2020
Crossed Over
Passed
Dead
01/11/2022

Introduced Session

2020-2021 Regular Session

Bill Summary

This bill prohibits automobile insurers from assigning an insured or prospective insured to a rating tier based upon that person's: (1) educational level; (2) employment, trade, business, occupation or profession; or (3) credit score, or any information derived from an insured's credit report. The bill also prohibits automobile insurers from inquiring of an insured or applicant for insurance, or of a third-party concerning an insured or applicant, as to these factors.

AI Summary

This bill prohibits automobile insurers from using an insured or prospective insured's educational level, employment, occupation, or credit score as factors in determining their insurance rating tier. The bill also prohibits insurers from inquiring about these factors when underwriting automobile insurance policies. This is intended to prevent insurers from basing insurance rates on factors that may not directly relate to driving risk or insurance costs.

Committee Categories

Business and Industry

Sponsors (11)

Last Action

Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 01/14/2020)

bill text


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